Published on 2/26/2009 in the Prospect News PIPE Daily.
New Issue: Royal Mines and Minerals secures $1.14 million from private placements of units
By Devika Patel
Knoxville, Tenn., Feb. 26 - Royal Mines and Minerals Corp. settled three private placements of units for $1.14 million on Feb. 24, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 22,876,840 units of one common share and one warrant.
Each whole warrant is exercisable at $0.10 per share for two years.
Royal Mines and Minerals, based in Henderson, Nev., is a mineral acquisition, exploration and development company.
| Issuer: | Royal Mines and Minerals Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1,143,842
|
| Units: | 22,876,840
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.10
|
| Settlement date: | Feb. 24
|
| Stock symbol: | OTCBB: RYMM
|
| Stock price: | $0.07 at close Feb. 24
|
| Market capitalization: | $3.74 million
|
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